Posted on: 30th Sep, 2010 06:56 am
My ex-spouse quit claimed the house to me in a divorce modification. We are both on the mortgage, could this trigger a acceleration clause even though I am a "Natural person". Or maybe you could explain what "natural persons mean" Thank you
hi redgreena,
a "natural person" can be defined as an individual. it is just the opposite of a legal person. your ex-spouse has transferred the property to you. thus, you're the owner of the property. if both of you are the co-borrowers of the mortgage, then you can refinance the mortgage in your name and remove your husband from the loan docs.
thanks
a "natural person" can be defined as an individual. it is just the opposite of a legal person. your ex-spouse has transferred the property to you. thus, you're the owner of the property. if both of you are the co-borrowers of the mortgage, then you can refinance the mortgage in your name and remove your husband from the loan docs.
thanks